Fund Advisors of America Inc FL Invests $692,000 in Southern Copper Corporation $SCCO

Fund Advisors of America Inc FL acquired a new stake in shares of Southern Copper Corporation (NYSE:SCCO) during the 4th quarter, Holdings Channel.com reports. The firm acquired 4,822 shares of the basic materials company’s stock, valued at approximately $692,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Royal Bank of Canada raised its holdings in Southern Copper by 42.1% during the 1st quarter. Royal Bank of Canada now owns 44,879 shares of the basic materials company’s stock worth $4,194,000 after buying an additional 13,293 shares during the period. Empowered Funds LLC boosted its holdings in shares of Southern Copper by 17.9% in the first quarter. Empowered Funds LLC now owns 6,705 shares of the basic materials company’s stock valued at $627,000 after buying an additional 1,020 shares during the period. Focus Partners Wealth boosted its holdings in shares of Southern Copper by 21.5% in the first quarter. Focus Partners Wealth now owns 5,944 shares of the basic materials company’s stock valued at $556,000 after buying an additional 1,052 shares during the period. First Trust Advisors LP increased its position in shares of Southern Copper by 37.4% during the second quarter. First Trust Advisors LP now owns 73,379 shares of the basic materials company’s stock worth $7,424,000 after acquiring an additional 19,957 shares in the last quarter. Finally, Baird Financial Group Inc. increased its position in shares of Southern Copper by 17.7% during the second quarter. Baird Financial Group Inc. now owns 4,864 shares of the basic materials company’s stock worth $492,000 after acquiring an additional 731 shares in the last quarter. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SCCO has been the topic of a number of research analyst reports. Scotiabank reaffirmed an “underperform” rating and issued a $140.00 target price (up from $135.00) on shares of Southern Copper in a report on Monday. The Goldman Sachs Group upgraded Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price objective on the stock in a research note on Friday, April 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Southern Copper in a research report on Friday, March 27th. Barclays began coverage on Southern Copper in a research note on Thursday, May 21st. They set an “underweight” rating and a $148.00 target price for the company. Finally, Bank of America lowered Southern Copper from a “neutral” rating to an “underperform” rating and boosted their target price for the stock from $162.00 to $175.00 in a report on Thursday, February 26th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and eight have issued a Sell rating to the company. Based on data from MarketBeat.com, Southern Copper has an average rating of “Reduce” and an average price target of $145.94.

Insider Transactions at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $177.82, for a total value of $35,564.00. Following the completion of the sale, the director owned 1,807 shares of the company’s stock, valued at approximately $321,320.74. This trade represents a 9.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 404 shares of company stock valued at $74,108. Company insiders own 0.07% of the company’s stock.

Southern Copper Trading Up 0.0%

NYSE:SCCO opened at $192.98 on Friday. The firm’s fifty day moving average is $184.81 and its 200-day moving average is $177.41. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.89 and a current ratio of 4.38. Southern Copper Corporation has a 52 week low of $88.73 and a 52 week high of $223.88. The firm has a market cap of $159.41 billion, a P/E ratio of 31.90, a P/E/G ratio of 1.79 and a beta of 1.09.

Southern Copper Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 13th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Wednesday, May 13th. Southern Copper’s dividend payout ratio (DPR) is currently 66.12%.

Southern Copper Profile

Southern Copper Corporation (NYSE: SCCO) is a large, integrated copper producer whose operations span the full value chain from exploration and mining to smelting, refining and the sale of copper and other metal products. The company produces a range of copper products including copper concentrate and refined cathodes, and recovers valuable byproducts such as molybdenum, silver and zinc. Southern Copper concentrates on high-volume, long-life assets designed to support steady production and processing capabilities.

Southern Copper’s operations are concentrated in Peru and Mexico, where it owns and operates multiple large-scale mining and processing facilities.